Australia's market fell sharply in early trade on Thursday, after U.S. stocks sank overnight. Both the Dow and S&P 500 posted their biggest one-day drops since early February, while the Nasdaq notched its largest single day sell-off since June 24, 2016. Australia's market fell sharply in early trade on Thursday, after U.S. stocks sank overnight as a steep decline in tech shares and worries of rapidly rising rates sent Wall Street on pace for its worst day in eight months.

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